Please keep in mind that the buy-back was a transparent repurchase of SCL for the companies holdings. It’s primary purpose was to put SCL back in to the hands of the developers, along with helping raise to raise the price slightly with higher buy volume.

The buy-back pushed SCL to a new all-time-high of more than $0.82. After all of our buy-walls were broken, there was no buyer support underneath us, hence the sudden fall of price.

We spent a total of 100 BTC, and our stack of SCL is now worth slightly more than 34 BTC. As a team, we’re not too worried about the sudden price drops as we know that the price of SCL will increase as the demand and usage does — which will all come with version 2.0 of the platform due for release inside of Q1 2018.

We will now be concentrating on development and pushing out updates weekly to keep the community informed of our progress.

Here is the address for where we will be keeping our entire supply of SCL.

0xca5a3A9347D135Ce7b2c0835D857BECcd2Ccc96E

We will be holding our stack within that address and not touching any of it until the release of version 2.0. After then, our SCL will be used for business deals and for topping up account wallets via other methods of payment (such as BTC, ETH and USD).

Keep an eye out for another exciting post next week regarding our rebrand.

If you have any questions regarding the buy-back, please email us at support@nexus.social.